Zampalm, a subsidiary of beef producer Zambeef, announced the start of the commercial production of palm oil, with prospects of generating revenue in excess of US$172 million before 2027.
The Zampalm project wants to meet local demand for crude palm oil. It also wants to exploit regional markets like the South African Development Community (SADC) and countries like the Democratic Republic of the Congo and Angola.
“We are very excited about the opportunity and possibilities the venture presents for both the company and the country,” Dr Jacob Mwanza, Zambeef Board Chairman said
“For the first time we have quality palm oil being produced, refined and sold locally. This is a huge step towards industrialisation and raising the country’s agro-processing portfolio.”
The first commercial palm oil will be delivered from the Zampalm plantation in Muchinga Province.
Zampalm also plans to involve small-scale farmers by setting up an out-grower scheme to increase the volume of palm oil produced.
The project is a joint venture with Global Industries Ltd.
“We are very happy to be working with Zambeef to bring Zambian palm oil to the market,” said Malona Sampath, CEO of Global Industries Ltd.
He praised the quality of oil and said the initiative will allow the country to meet local demand and put more competitive finished products on the market.
The Zampalm project was launched in 2009, with an area of 2 873 ha planted with palms in the main plantation.
Zambeef’s first crushing mill, with a crushing capacity of between two and three tonnes of fruit, started working in 2015.